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Analysts said that a global economic slowdown was preventing prices from surging beyond the 2019 highs seen this week.

Reuters

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A truck used to carry sand for fracking is washed in a truck stop in Odessa, Texas.

Oil prices hovered close to 2019 highs on Thursday, bolstered by OPEC-led supply cuts and U.S. sanctions on Venezuela and Iran, but were prevented from rising further by slowing growth in the global economy.